CAC 40
10 companies
Airbus
Aerospace
Airbus proved that four weak players can beat one dominant incumbent - if the coalition is architected correctly. When the European consortium formed...
Hermès
Luxury Goods
Hermès spent its first 100 years on a single Paris street perfecting saddles and harnesses for horses. When the automobile arrived, the company pivote...
LVMH
Luxury Goods
In 1984, Bernard Arnault bought Christian Dior and began building what would become the world's largest luxury goods company. Conventional wisdom said...
Air Liquide
Industrial Gases
Air Liquide is a world leader in gases, technologies and services for industry and health, operating in over 80 countries with a strong focus on innov...
BNP Paribas
Banking
BNP Paribas is a leading European bank with international reach, serving individual customers, corporates, and institutional investors across more tha...
Kering
Luxury Goods
Luxury goods competitor to LVMH with a more ambiguous brand hierarchy. Compared unfavorably to LVMH on multiple metrics: 21.4% operating margin (vs. L...
L'Oréal
Consumer Goods
L'Oréal is the world's largest cosmetics and beauty company, offering products across skincare, haircare, makeup, and fragrances through luxury, profe...
Sanofi
Pharmaceuticals
Sanofi is a global healthcare company focused on discovering and delivering innovative medicines and vaccines in immunology, oncology, rare diseases,...
Schneider Electric
Electrical Equipment
Schneider Electric is a global leader in energy management and automation, providing digital energy and automation solutions for homes, buildings, dat...
TotalEnergies
Energy
TotalEnergies is a global multi-energy company producing and supplying energy including oil, natural gas, renewable power, and electricity, committed...